Rob Fyfe resigns from Air NZ

[blah blah blah]

CEO Rob Fyfe to quit Air NZ - Business - NZ Herald News (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10782369)

So who is going to take over?

[Server too busy]

Helen Clark :eek::{;)

[CI300]

NZ's loss / QFs gain...

[blueloo]

Please take the Qantas board and the little Irishman. Air NZ has had years of innovation - its time to stop it. Alan has got years of experience running a NZ airline - Jetconnect. Air NZ can only benefit from this!

:}:}:}:}:}

[dragon man]

After a world wide search for the best airline CEO Air NewZealand annouced the appointment of Allan Joyce. Could we at Qantas be so lucky. I doudt it. Do ANZ deserve him? No, no airline does.

[tartare]

They already know who the successor is.
Goodbye little Robbie...

[The Green Goblin]

Would be interesting if he heads to coward street :cool:

[73to91]

Leaving at the end of the year would mean that he wouldn't be able to take up his role in Coward Street until 6 months later, you'd assume.

So you might be stuck with AJ for another 18 months!

[tartare]

The New Zealand Herald quoted a statement from Fyfe saying that his decision was made partly to create the space for the airline’s talented and capable executives to realize their full potential.

That's a message, ladies.
You're stuck with AJ.
It means it'll highly likely be an internal appointment.
Have a look at the NZ website exec page and see if you can work out who ol Steak thinks it'll be...;)

[The Green Goblin]

Or he takes the helm at VA and JB gets his beloved QF back, if only........

[gobbledock]

Fyfe won't pop up at QF. He is too smart. Unlike the Irish Nimrod, Fyfe has chosen to bail while he is at the crest of his ride. He can see clearly through the hazy crystal ball at the financial maelstrom about to cripple the globe. Smart boy that one.
Why take on either QF or VA now, in an environment racked with a multitude of financial, political and fiscal global implosions? Nope, bail out with reputation intact. He will 'reappear' somewhere unrelated to running an airline, pretty much gaurenteed. And good on him, he has earned himself some points in the process. Unlike da little fella from QF who has earned himself the reputation for destroying a national icon, trashing a business and expediently loading up his bank account while his shareholders reap a giant pineapple in the ass!

Oh the pain, the humiliation, the despair, the angst and the embarresemt - You bastards got Fyfe while we got a 5 foot bag of steaming pony pooh!!!

[distracted cockroach]

You are so right...look for Mr Fyfe next as the head of a NZ State Owned Enterprise, or a large financial institution.
There is no money to be made in airlines....everyone knows that... that only way to make a small fortune out of aviation is to start with a large fortune.
Mr Fyfe knows he has made the best out of a bad situation...basically come out of a toilet smelling of flowers. Good for him. Go on to bigger and better things.
As for the employees of Air NZ, watch another CEO bail with a big tick on his CV, wait and see who the next short term opportunist is.
Can someone show me a single person in airline management who has spent anywhere near as much time with a company as the most senior pilot?
Yeah, thought not. More fool us!

[burty]

Can someone show me a single person in airline management who has spent anywhere near as much time with a company as the most senior pilot?

Norm Thompson must come close?

[tartare]

No - it won't be good old Normy.
And speaking as a Kiwi who used to work near the top of NZ - good bloody luck to whoever gets little Robbie next.
Ignore the PR and the grandstanding, boys.:yuk:
Look at the numbers.
The point is not to come out of the toilet smelling of flowers.
It's actually to install another urinal or two, and make the whole bog turn a decent profit!
He wouldn't stand a sh*t show running an airline like QF.

[dreamjob]

From the SMH:

"Mr Fyfe, who replaced former Commonwealth Bank boss Ralph Norris as Air New Zealand chief executive in 2005, has been heralded in some quarters as a possible future chief executive of Qantas."

Read more: Air NZ looks for new chief (http://www.smh.com.au/business/air-nz-looks-for-new-chief-20120131-1qr8w.html#ixzz1l5y5ayAH)

Which quarters would that be? PPrune?

[Capt Kremin]

Well who knows? Maybe the institutions have finally pinged that the gnome hasn't a clue and is past his use by date.

[Taildragger67]

Don't think so, the last time a senior QF exec was roped in to run AirNZ, it didn't turn out to be their most successful period...

[tartare]

On the suggestion Fyfe could head QF - Qantas's problems are profound and deep.
They require much more of a CEO than a talent for generating publicity and creating a veneer of staff engagement.
He couldn't handle your unions for a start - or your politicians.
Your fleet alone is nearly three times the size of NZ's, your staff numbers over three times higher, your network is much more extensive, your market cap is three and a half times that of NZ.
I could go on - basically QF is a muuuch bigger and more complex gig than NZ - the two airlines are totally different animals.

[Section28- BE]

"Your fleet alone is nearly three times the size of NZ's, your staff numbers over three times higher, your network is much more extensive............."

Orrrr- don't know, it's been tried before.......... from that side of the Tasman- with the benefit of hindsight one learns, might be worth a shot..........:\:}:E

Rgds all
S28- BE

[HF3000]

Can someone show me a single person in airline management who has spent anywhere near as much time with a company as the most senior pilot?

John Borghetti.

[aussie027]

This article has a different take on Fyfe's tenure--

These were posted by someone commenting on Plane Talking article.
Of course it seems nowadays even if a company is very well run and making a profit that may not be accurately reflected by a rise in values of the share price.

Wednesday, February 1, 2012

The Market says Rob Fyfe has failed (http://shareinvestornz.********.com.au/2012/01/market-says-rob-fyfe-has-failed.html)

So the departing CEO of Air New Zealand Ltd [AIR.NZX (http://shareinvestorforum.com/viewtopic.php?f=3&t=139#p375)] is leaving his post at the end of 2012 (http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10782369) and being lauded by some as a "rockstar" CEO and the saviour of an airline.

According to the market though he is not.

If we look at the 7 year chart below - the length of time Mr Fyfe has been with AIR NZ -.we can see that the share price has kamakazied to half the value it was when he took over in 2005.

http://chart.bigcharts.com/custom/fairfax-com-nz/chart.asp?rnd=0.11818553175098012&style=2242&symb=AIR&size=1&type=64&time=7yr&freq=1dy&comp=&compidx=&ma=&maval=&lf=268435456&lf2=&lf3=&uf=16384&arrowdates=&arrowlegend=&country=NZ&sid=964355 7 Year AIR Chart
Not only that, the share price is an all-time low (see 10 year AIR chart below) since the company was injected with a billion taxpayer dollars in 2002. Hardly the stuff of first-class lay back and champagne flutes.

http://chart.bigcharts.com/custom/fairfax-com-nz/chart.asp?rnd=0.11818553175098012&style=2242&symb=AIR&size=1&type=64&time=10yr&freq=1dy&comp=&compidx=&ma=&maval=&lf=268435456&lf2=&lf3=&uf=16384&arrowdates=&arrowlegend=&country=NZ&sid=964355 10 Year AIR Chart
Over its 10 year listing (http://shareinvestornz.********.co.nz/2010/02/long-term-view-air-new-zealand-ltd.html) Air New Zealand has had negative returns for investors and the share price was markedly better under Sir Ralph Norris who managed the current structure of the company well through its formative years in the early 2000s.

I know airlines are notoriously difficult to run and it is hard for them to make money but the plaudits and pats on the back for him now are misplaced at best and arse kissing at worst.

And this link--

Fyfe resigns from Air New Zealand | The National Business Review (http://www.nbr.co.nz/article/fyfe-resigns-air-new-zealand-db-108632)

[tartare]

Precisely.
Arse-kissing, naive journalism, and regurgitation of media releases.
Give credit where it is due - but please don't portray little Robbie as some world class visionary.
He so is not.

[Yousef Breckenheimer]

Whoever becomes new boss man please no BS like that RYP crap again. EVER.:ugh:

[waren9]

WTF does RYP stand for?

[27/09]

aussie027, you quote Over its 10 year listing Air New Zealand has had negative returns for investors and the share price was markedly better under Sir Ralph Norris who managed the current structure of the company well through its formative years in the early 2000s.

Perhaps this excerpt from Brian Gaynor's column in the NZ Herald puts some perspective on things. Brian Gaynor writes on his own behalf and had his own asset management company.

......Air New Zealand has had a positive sharemarket performance of 38 per cent, including dividends, while the NZX-50 Gross Index has been down 1.3 per cent.

By contrast Qantas has had a negative sharemarket return of 37.6 per cent since October 2005 while the Australian sharemarket has risen by 25.9 per cent, in gross terms, over the same period.

[tartare]

Of course 27/09!!!
If it's in the New Zealand Herald, then it couldn't possibly be incorrect could it???
Brian Gaynor - that well known, incisive, highly successful and well regarded business commentator... you probably read Fran O'Sullivan and nod approvingly as well, don't you.... :rolleyes:
The gullibility of people never ceases to amaze me.

[ampan]

F*fe's primary objective while in the job was to promote himself, in order to get a better job. Instead of going to the hangar to study maintenance procedures, he preferred to pose on French beaches and polar mountainsides spouting crocodile tears, and seeking further brownie points by extending his "heartfelt apologies for what those other blokes did".

[27/09]

Tartare,

So the figures I quoted are incorrect? Do you have evidence to prove them wrong?

[tartare]

Yes.
Look at Aussie 27's chart.
Incontrovertible evidence - direct from the exchange.
And what is NZ's current shareprice?
Errr - and how profitable is it's international network?
Which sectors, at contribution or positive EBITDA level?
How profitable is it's domestic network?
Where on that network does it really make it's money?
What is its ROIC?
What is it's WACC?
What does the other Rob (who really does deserve the credit for keeping it profitable) think its ROIC should be?
What should it's NPAT really be?
What has it really done in the last 7 years that is truly new?
Certainly until halfway through show off Rob's reign I knew the answers to all those questions... I doubt they have changed much.
And I highly suspect my friend - that you do know not those answers.
You can fool all of the people some of the time...

[pipkin]

Government ownership. Thats right, Qantas stands on its own two feet, whereby Air NZ is owned by the poor old Kiwi tax payer.

And oh yes, Fyfe lives next door to John key, That gotta help

Pratt!

[cribble]

Ampan
I don't know what he did regarding engineering since being CEO of Air NZ but he cut his teeth on engineering practices in the hangar. As the Engo on No 75 Sqn RNZAF he was not scared of sweating along with his troops or getting his hands dirty (personal observation of actual performance on the flightline).

[27/09]

tartare

Yes.
Look at Aussie 27's chart.
Incontrovertible evidence - direct from the exchange.

Actually Aussie 27's chart direct from the exchange is showing different info from the figures quoted by Brian Gaynor. Mr Gaynor includes dividends in his figures, the chart you mention does not, you're comparing apples and oranges.

I'm not saying Rob Fyfe couldn't have done better, I was trying to point out that during his time at the helm Air NZ hasn't done badly in comparison to the NZ sharemarket overall nor to how Qantas has done during the same period.

You come across as a bitter disenfranchised person. Did Rob free up your future?

[slamer.]

Pipkin ... another difference, in 10 years Air NZ will still be around. Qantas ... who knows ..! (and who would have thought)

PS ... wish I could be bothered looking at Qantas's share market perf under AJ. Maybe someone with more time ... ?

[tartare]

Nope.
I freed up my own future... I chose to leave.
And thank God I did.
It's interesting how anyone who challenges the widely perceived and naive view of Robbie being a visionary CEO is automatically labelled bitter, disenfranchised, disgruntled former employee etc.
A small number of people know the truth - and one day, the full story will be told.

[27/09]

Tartare

Obviously you know more than most on here about how good Rob Fyfe really is. No doubt the truth will come out one day. It's a fact of life that some people are good at making themselves look good due to the efforts of others. Having said that any good CEO is supported by good staff, I'm sure that's possibly true in Rob's case as well.

I have no problem with anyone expressing their view as you have, however to me the tone of some of your posts seem to have a bitter tinge to them. Hence my comment "You come across as a bitter disenfranchised person". My apology if I have gained the wrong impression.

[tartare]

Thank you for your kindness.
As I sit here looking out at a beautiful sunset across a harbour and a desert, I hope that one day I'll be able to tell my story to all the good people at NZ.
To Rob 2.
To Vanessa.
To Norm.
And Ed - now left.
To all my pilot brothers up the front... listening to the sound of the wind around the jet.
And all the people on the line.
Fly safe.